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Tag Archives: revenue

IFA Backs FIRS’ Rejection Of OECD Digital Economy Tax Agreement

The International Fiscal Association (IFA) has thrown its weight behind Nigeria for refusing to endorse the Organization for Economic Cooperation and Development (OECD) G20 inclusive Framework two-pillar solution to the taxation of the digital economy, saying it will be an infringement on Nigeria’s sovereignty. The Federal Inland Revenue Service (FIRS) …

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Group Commend FIRS Chairman, Nami On Fiscal Prudence And Improved Staff Welfare

The Executive Chairman of the Federal Inland Revenue Service, (FIRS) has received encomiums from the Global Economic Policy Initiative (GEPIn) for what the group describes as “fiscal prudence over the affairs of the FIRS, and ensuring maximum efficiency with minimal resources.” In a statement shared to the media by the …

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Exploring the finance Act to grow non-oil revenue

The experience of COVID-19, especially in developing nations with dependent oil resources like Nigeria, has further heightened the call for the diversification of revenue sources. Oil benchmark prices dropped below zero, forcing producers to pay off-takers because of the compounding demurrage from warehouses. Nigeria has not hidden its desire to …

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FIRS to leverage Finance Act, 2021 to achieve adequate budget funding

The Federal Inland Revenue Service (FIRS) has stated that it would use the instrumentality of the Finance Act 2021, through collaboration with taxpayers and key stakeholders to ensure adequate funding of the country’s budget and raise the requisite financing for national development. This was stated by the Executive Chairman of …

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